LAKE MARY, Fla., March 23, 2021 (GLOBE NEWSWIRE) -- North America’s largest family of Sharia-compliant ETFs is now accessible to LPL Financial affiliated advisors. SP Funds, known for their rigorous adherence to Sharia-compliant guidelines, were added to the platform in January 2021, giving affiliated financial advisors access to Sharia-compliant options for their clients, including, Sukuks ETF (SPSK) and equity ETF (SPUS).
"Sharia-sensitive clients currently being served by LPL advisors can now access a diverse selection of ETFs, which are important growth and income-generating investment strategies, aligned with their values,” said CEO of SP Funds, Naushad Virji.
The SP Funds family of Sharia-compliant ETFs launched on the New York Stock Exchange (NYSE) that are available to LPL advisors include:
- SP Funds S&P 500 Sharia Industry Exclusions ETF (ticker: SPUS) – SPUS is a Sharia-compliant US Equity ETF tracking the S&P 500 Sharia Industry Exclusions Index. SPUS is also a great ESG complement with an MSCI ESG Fund Rating of AA based on a score of 7.35 out of 10*.
- SP Funds Dow Jones Global Sukuk ETF (ticker: SPSK) – SPSK is the world’s first Sharia-compliant fixed income ETF. This ETF tracks the Dow Jones Global Sukuk Index and offers clients a fixed income option in their Sharia-compliant portfolios. SPSK is the winner of ETF.com Best New International/Global Fixed Income ETF 2020; and the of the Global Islamic Finance Awards for Most Innovative Sukuk Product 2020.
SP Funds ETFs were built in accordance with the Accounting and Auditing Organization for Islamic Financial Institutions (AAOIFI) Guidelines, and are certified Sharia-compliant by Raqaba, an independent Sharia Audit and Sharia Advisory Council.
“We designed our ETFs for investors who might be looking for halal exposure and for any investors who seek to avoid over-levered enterprises, which can encounter serious turbulence in choppy markets,” commented Naushad Virji.
About SP Funds
SP Funds is dedicated to offering an ethical approach to investing that avoids companies with significant debt. By adhering to AAOIFI guidelines, we ensure the securities in our ETFs avoid investments in businesses such as tobacco, pornography, gambling and interest-based finance. The end result is a collection of socially responsible investments that are in well capitalized companies. www.sp-funds.com.
https://www.sp-funds.com/general-disclaimer/
Contact:
Salaudeen Nausrudeen, Marketing Manager
info@sp-funds.com
917-962-7828